CDK - CDK STOCK NEWS

CDK Global, Inc. (Nasdaq: CDK) announced the appointment of David Hahn as chief information security officer (CISO). Hahn will join the executive leadership team and is tasked with developing a global strategy to manage technology risk and security across various departments. Mahesh Shah emphasized the importance of cybersecurity in advancing CDK's technology. Previously, Hahn served as CSO for Silicon Valley Bank and has extensive experience in fraud and application security. CDK Global, known for integrated automotive technology solutions, reported revenues of approximately $2 billion.

CDK Global, Inc. (Nasdaq: CDK) has announced a partnership with Integrated Rental, aimed at enhancing equipment rental integration within its IntelliDealer dealer management software platform. Set to roll out early next year, this collaboration will provide customers with improved data management and operational efficiency. Key benefits include scalable rental operations, centralized data analysis for fleet management, and standardized processes for better employee onboarding. This partnership aims to drive growth and customer service improvements in the heavy equipment rental market.

Francisco Partners has announced a definitive agreement to acquire CDK Global's International business segment (CDKI) for $1.45 billion. CDKI is recognized as a premier provider of automotive retail software solutions across EMEA and Asia. The acquisition aims to facilitate CDKI's growth as a standalone entity, enhancing its ability to adapt to market changes. Francisco Partners will leverage its expertise to support CDKI's strategic ambitions and product innovations. The transaction is pending customary regulatory review.

CDK Global has announced the sale of its CDK International business segment to Francisco Partners for $1.45 billion, representing a valuation of approximately 15 times the segment's LTM adjusted EBITDA. This transaction is expected to enhance CDK's financial flexibility and focus on growth in North America. The sale will be classified as discontinued operations, leading the company to withdraw its fiscal year 2021 guidance, which will be updated once reporting is complete. CDK plans to use the proceeds for debt reduction and general corporate purposes.

HOFFMAN ESTATES, Ill., Nov. 12, 2020 – CDK Global (NASDAQ:CDK) has announced a quarterly cash dividend of $0.15 per share, set to be paid on December 30, 2020, to shareholders recorded by the close of business on December 1, 2020.

CDK Global, generating $2 billion in revenues, provides integrated IT solutions to the automotive retail sector. Serving around 30,000 retail locations globally, CDK’s offerings streamline all aspects of dealership and vehicle purchase processes.

CDK Global reported a 10% revenue increase for Q1 FY2021, totaling $494 million, matching last year's performance. The CEO highlighted strategic investments driving growth, with record sales and consistent increases in key metrics over seven quarters. However, GAAP net earnings decreased 32% to $55.7 million, with diluted earnings per share falling 31% to $0.46. The company provided full-year guidance, projecting revenues between $2.000 - $2.050 billion and adjusted earnings per share of $3.10 - $3.40. Long-term growth expectations indicate mid-single digit revenue growth.

CDK Global (Nasdaq: CDK) will announce its financial results for Q1 fiscal year ending September 30, 2020 on November 2, 2020. The company will hold a conference call at 4:00 p.m. CT, featuring CEO Brian Krzanich, CFO Joe Tautges, and Director of Investor Relations Julie Schlueter. Investors can join via a live webcast available on the CDK Investor Relations website, with a supplemental slide presentation provided beforehand. CDK Global generates approximately $2 billion in revenue and serves around 30,000 retail locations globally, offering integrated tech solutions for the automotive retail sector.

CDK Global, Inc. (Nasdaq: CDK) announced a quarterly cash dividend of $0.15 per share, payable on September 30, 2020, to shareholders on record as of September 1, 2020. The company reported revenues of $2 billion and provides integrated IT solutions to the automotive retail sector globally. CDK serves around 30,000 retail locations and operates in over 100 countries, automating various dealership processes, from sales to vehicle maintenance.

CDK Global reported its fiscal 2020 fourth quarter results, with revenues of $450 million, down 8% from the prior year. Despite challenges from COVID-19, 82% of revenue came from subscription-based sources. The company exceeded its annual guidance, with fiscal 2020 revenue at $1.96 billion, up 2%. GAAP net earnings increased by 129% to $45.6 million, while GAAP diluted EPS rose 129% to $0.37. The company launched new digital retailing solutions and reached 12 million transactions on the Fortellis platform, indicating resilience in its business model.